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Journal Q1 TV Revenue Up 7.5% - Broadcasting & Cable

Journal Q1 TV Revenue Up 7.5%

Television hot, radio warm, newspapers cool for Milwaukee media biggie
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Journal Communications reported first quarter television revenue of $29.5 million, up 7.5% from the same quarter last year. Political and issue advertising revenue was $1.2 million, compared to $0.8 million last year. Core local advertising revenue increased 2.6% while core national ad revenue increased 18.1%, primarily due to increases in communications and financial advertising.

Overall broadcasting revenue, including radio, increased 5.4% in the quarter to $44.4 million.

Journal's total revenue was $82.3 million -- down almost 2% for the quarter as publishing lagged.

The company called it a "solid" quarter. "Broadcast revenue was up 5.4% with the majority of our markets reporting revenue growth," said Journal. "We also had a number of other broadcast highlights in the quarter. First, we are pleased that our Milwaukee 620 AM WTMJ radio station extended its longstanding radio rights agreement with the Milwaukee Brewers. In addition, we reached a long-term agreement to originate the Green Bay Packers preseason television network."

Journal anticipates "high single digit" broadcast revenue increases for the second quarter, "driven by an improving economy and higher political advertising revenue in key states."

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